Real Estate Math
A property manager charges 9% of collected rents. If a property collects $3,200 in rent during a month, what is the management fee?
A$256
B$288✓ Correct
C$320
D$384
Explanation
Management fee = $3,200 x 9% = $3,200 x 0.09 = $288. To solve this, multiply the relevant values: $3,200 at 9%.. The correct answer is $288.. This is a common calculation on the Utah real estate exam.
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